- Talks about the purchase started at the end of last year as per co-founder of Sei Network.
- SushiSwap becomes one of the first Ethereum apps to join the Cosmos ecosystem.
Vortex Protocol was acquired by the widely used Ethereum-based decentralized exchange (DEX), SushiSwap today for an undisclosed sum. The on-chain trading platform, which will be rebranded as part of SushiSwap. Moreover, it will be built on Sei Network, a blockchain that employs Cosmos’s technology.
In the future, users of the upcoming decentralized derivatives exchange known as Vortex Protocol will be able to take advantage of 10x margin trading on a wide selection of underlying assets. Both the Sei Network and Sushi’s recently acquired Vortex Protocol are scheduled for mainnet releases in the second quarter of 2023.
Joining Cosmos Ecosystem
With this purchase, the SEI, Vortex, and Sushi teams are working together. In order to launch the world’s first completely on-chain perpetual DEX. According to Jayendra Jog, co-founder of Sei Network, talks about the purchase had started at the end of last year.
In doing so, SushiSwap becomes one of the first Ethereum apps to join the Cosmos ecosystem. Additionally, dYdx, an Ethereum-native derivatives exchange, has announced that it plans to debut on Cosmos in the second quarter of this year.
The benefit of using Cosmos is that it allows developers to quickly create blockchains. That are optimized for a certain use case. Developers have complete control over the network, according to Jog. Who claims that they can do anything from changing the network’s consensus process to using a native validator set.
By adjusting block processing on the chain, lowering finality to 300 milliseconds, and introducing a feature called parallelization, the Sei team has created a blockchain that is tailor-made for launching decentralized exchanges, as Jog explained.
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